Mortgage Loans

turn on suggestions Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Reply
Topic Options
Frequent Contributor
UpmyscoreinFL
Posts: 284
Registered: ‎01-12-2012

Will. They give you money to fix up house

Options

‎05-20-2012 09:20 AM

So if a house is 35000 need some work can I get a loan for 60000 so I have the money to fix it up? I could afford that with my eyes closed and even put 10 percent down. Wouldn't it be easy to get financed for that even with not to great credit?
Equifax my fico 629
Transunion my fico 669
Experian fako 663
Message 1 of 3 (254 Views)
 
Reply
New Contributor
tasharn
Posts: 57
Registered: ‎08-08-2011

Re: Will. They give you money to fix up house

Options

‎05-20-2012 10:05 AM

You may want to look into a FHA 203K loan. Its a rehab loan. Some lenders have experience with them and some don't.

Message 2 of 3 (246 Views)
 
Reply
Valued Contributor
boomhower
Posts: 1,819
Registered: ‎09-20-2011

Re: Will. They give you money to fix up house

Options

‎05-20-2012 10:47 AM

FHA 203K is designed exactly for this. It's a good bit more involved than a typical loan and finding a LO with experience in it will be invaluable. 

Message 3 of 3 (241 Views)
 
Reply

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
www.myfico.com is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+